When it comes to the U.S. healthcare system, perhaps no topic is the subject of greater debate than access to affordable health insurance. From wellness checks to surgeries, patients and practices rely on insurance providers to cover the expense of these essential, often life-saving services, especially as the cost of office visits, treatments and medication continue to rise. Yet, unfortunately, not every American has the healthcare coverage they need. According to a September 2019 report issued by the U.S. Census Bureau (numbers reflect the country’s status in 2018), here are the stats:
That’s right: 27.5 million U.S. citizens were without health insurance. Fast forward six months from the publication of this report and the problem has grown exponentially, with tens of millions of jobs lost due to the COVID-19 pandemic. Of course, given so many individuals are insured via their employers, a job loss or a job change is likely to have major repercussions on coverage status.
Yet, despite the uncertainty, Americans still need to see a doctor due to an emergency, a wellness visit, or a scheduled procedure. This means that healthcare practices need to go the extra mile to ensure they are reimbursed for the services and treatments they administer. According to the U.S. Department of Labor, one claim in seven is initially rejected – totaling more than 200 million denied claims a day and representing huge financial hits (or massive headaches and hassles, at a minimum) for practices and patients alike. What can a practice do to slash their claim denial rate? A few simple measures can make all the difference:
From out-of-network physician choices to mistakes during data entry, there are many reasons why an insurance claim is denied. Fortunately, patient engagement and self-check-in technology, coupled with the appropriate best practices, will dramatically lighten the eligibility-verification burden. The result: a reduction in claim denials, improvements in cash flow and practice profitability - and a boost to patient satisfaction.